StockNews.com Begins Coverage on Beacon Roofing Supply (NASDAQ:BECN)

StockNews.com began coverage on shares of Beacon Roofing Supply (NASDAQ:BECN) in a report published on Saturday morning. The firm issued a sell rating on the stock.

BECN has been the subject of several other research reports. Benchmark restated a “buy” rating and set a $140.00 target price on shares of Beacon Roofing Supply in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $103.00 price objective on shares of Beacon Roofing Supply in a research note on Tuesday, November 19th. Robert W. Baird increased their price target on shares of Beacon Roofing Supply from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday. Zelman & Associates downgraded shares of Beacon Roofing Supply from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada increased their target price on shares of Beacon Roofing Supply from $113.00 to $114.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Beacon Roofing Supply has an average rating of “Hold” and an average price target of $120.62.

Beacon Roofing Supply Price Performance

NASDAQ BECN opened at $112.91 on Friday. Beacon Roofing Supply has a 1 year low of $77.54 and a 1 year high of $121.42. The company has a fifty day simple moving average of $112.56 and a 200 day simple moving average of $101.59. The company has a current ratio of 1.91, a quick ratio of 1.14 and a debt-to-equity ratio of 1.60. The company has a market cap of $6.95 billion, a P/E ratio of 19.30 and a beta of 1.62.

Beacon Roofing Supply (NASDAQ:BECN) last released its earnings results on Thursday, February 27th. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.43 billion. Beacon Roofing Supply had a return on equity of 25.32% and a net margin of 3.86%. On average, sell-side analysts predict that Beacon Roofing Supply will post 7.22 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BECN. Quarry LP grew its stake in shares of Beacon Roofing Supply by 180.7% in the 3rd quarter. Quarry LP now owns 306 shares of the company’s stock valued at $26,000 after purchasing an additional 197 shares during the period. Blue Trust Inc. boosted its stake in Beacon Roofing Supply by 222.1% in the 3rd quarter. Blue Trust Inc. now owns 306 shares of the company’s stock valued at $28,000 after buying an additional 211 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in Beacon Roofing Supply in the third quarter valued at $28,000. SBI Securities Co. Ltd. acquired a new position in Beacon Roofing Supply during the fourth quarter worth $31,000. Finally, Johnson Financial Group Inc. bought a new position in shares of Beacon Roofing Supply during the fourth quarter valued at $54,000. Institutional investors own 98.45% of the company’s stock.

Beacon Roofing Supply Company Profile

Beacon Roofing Supply, Inc, together with its subsidiaries, engages in the distribution of residential and non-residential roofing materials, and complementary building products to contractors, home builders, building owners, lumberyards, and retailers in the United States and Canada. The company offers pitched roofing and low slope roof products; gutters and sidings; building materials, such as lumber and composite, skylights and window, plywood and OSB, decking and railing, and HVAC products; and foam board, spray foam, roll, batt, mineral wool, fiberglass, and commercial insulation products, as well as radiant barriers and blown-in insulation and equipment.